Cathy Cress

Expert in Aging Life and Geriatric Care Management

Are You an Entrepreneur or Non-Profit Wanting to Start a Geriatric Care Management Business?

Do you have a big enough Slice of the VIP Pie…?

If you are you are considering starting a for profit geriatric care management or ALCA business you must do a market study to find if you have enough VIP clients. Will you have a big  enough slice of the VIP pie to make that profit? That pie slice needs to have a big enough mixture of VIP older clients in the upper 10% who can afford GCM  or ALCA services and more important 4-6K a month for homecare.

Is This New GCM Service Feasible?

To start this feasibility study you need to determine the geographic footprint of the VIP market you wish to serve.
You should look at your entire potential service. For example, if you plan to serve the whole state of New Jersey or  the entire city of Princeton or the zip code 33023 in Hollywood, look at that Geographic area through the census.

You are searching for the section in your service area most likely to yield  VIP older clients in the upper 10% who can afford GCM  or ALCA services and more important 4-6K a month for homecare .

Market Sizing Can Help Find VIP Clients

Doing  a Market study will find out the number of older adults & population density within service area, the number of VIP households with income $500,000 as indicator of ability to pay and the number of residents over 75 as indicator of medically complex cases where 3 or more ADL’s cannot be done helps you understand if  enough VIP clients are in the area you choose for you to start a GCM or ALCA business

 

This VIP zip code search, in a market survey will insure that your Geriatric Care Management or ALCA agency  does not go bust and actually lose money. It has happened. Avoid this mistake.

Whether you are an entrepreneur wanting to start a Private Geriatric care management business or a non-profit agency wanding to add a for profit care management arm to raise money for the non profit you must do this market study as your first step down the path of investing in the oping of a GCM or ALCA business.

 

Join me in my newest FREE Webinar :

Sales – PR & Marketing to Find the VIP Client

When: Thursday, July 15th

Time: 2:00 PM-3:30 PM PST

 

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YOU Will Learn…

  • Who Are the 4 types of VIP Clients.

 

  • Understand how to find VIP Concierge Clients- hot mapping & Market Studies

 

  • Learn to create or revise a Concierge Geriatric Care Management Strategic Marketing Plan

 

  • How to Sell Benefits Not Features to 5 Professional ALCA -GCM 3rd parties
    .

 

  • How to Use Free PR to Use to Find Adult Children of VIP Clients

 

REGISTER NOW

After registering, you will receive a confirmation email containing information about joining the webinar.

Are You an Eldercare Non- Profit Wanting to Start a Geriatric Care Management Arm- Do Market Sizing

 

Non-Profit Seeking New Revenue?

Are you are a non- profit considering starting a geriatric care management business to add a revenue source to your non- profit. You do have a timeline – right? The second item on your timeline is a market feasibility study. You need to test what your market share will be. Will you have enough of the pie to make a profit?

Is This New GCM Service Feasible?

To start this feasibility study you need to determine the geographic footprint of the market you wish to serve.
You should look at your entire potential service. For example, if your non-profit serves the whole state of New Jersey the entire city of Princeton or the zip code 33023 in Hollywood, look at that
Geographic area. You are searching for the section in your service area most likely to yield older clients and their families who can afford GCM services the 10%
If you cover all the counties in Delaware, select all those counties. Create a market survey of those counties to find out which counties have the highest number of seniors, with the highest income described as your ideal client. You will be using the US census figures and other metrics.
Here is Some Great Tips To Make Sure Your Non- Profit adds a for-profit Geriatric Care Management does not go bust and actually lose money. It has happened. Avoid this mistake.

LEARN HOW TO MARKET LIKE YOUR BUSINESS DEPENDED ON IT 

January 23 @ 2:00 pm – 3:00 pm PST

The busiest season for care managers is January & February after as adult children have just visited for the holiday and seeing their elderly parents skating on very thin aging ice

Learn care management marketing so you can:

Capture those desperate clients in January after the festive fright-

Develop strategic marketing that brings more customers,

Understand branding         

Develop a positioning strategy so the caller chooses you

Understand lead generation in care management

Get the best marketing software  

Create a 5 Star Marketing Plan for the top 10% of seniors who can afford you.

Click Here To Register 

FIND OUT MORE 

THIS FREE  WEBINAR  FROM 2 PM – 3 PM PST Thursday, January 23, 2020

SIGN UP NOW  

Building Cross Referrals Between Non Profit Services

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After you have completed internal workshops to get staff to buy into the new for profit geriatric care management program, you want to look internally and survey your own non-profit services for potential referral to your new geriatric care management business. If you have a home care agency, hospice, or a SNF, they are an ideal source of referral to GCM.

 You would begin by listing of all the services you offer such as home care, Independent living, hospice, information and referral or counseling that could generate and refer GCM clients who can pay for your new GCM service. You need to identify which of your existing services would produce clients/ customers to your new for profit geriatric care management business.

Then you need to set up cross referral. Once you have gotten existing staff to buy in you can set up a weekly or monthly referral exchange meeting. Many services like hospice skilled nursing, retirement communities- any you already have can refer to the geriatric care management program and you the GCM can refer to them. You are creating a continuum of care in referrals. You also need to set up a system where the GCM program can screen appropriate clients fee for service, and refer people who cannot pay to other service within your non-profit or outside in the continuum of care in the community

 

Internal Referrals for Non-Profits Adding For Profit

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A senior non – profit adding for profit geriatric care management can really benefit from internal referrals. Your non- profit may have a hospice, senior housing, VA program, assisted living, a nursing home or a retirement community that could refer middle or upper income seniors to your care management program. But those programs and professional need a buy in before they will make those referrals.

To begin this internal referral investigation you should begin with an introductory meeting with key internal groups or divisions to explain what geriatric care management is. Many human service professionals do not understand geriatric care management. That internal meeting should cover what is GCM and why your staff should buy into adding this program to your mix, if it is feasible.

Social workers and nurses many times see themselves are delivering care management services already and can be very threatened by adding for profit GCM to your non profit services.  They may see you taking away what they give away for free and feel those free services are what their clients deserve.

 Internal staff may also see their own jobs threatened by this new service. You need to demonstrate how the GCM program will benefit all clients in your non-profit services such as homecare, counseling, or skilled nursing

Then you need to demonstrate how each staff members will benefit by the addition of GCM. This is critical so your non-profit staff can see the advantage of incorporating GCM into your program and will make referrals.  

You are in effect priming the well of internal referrals after you do this you could begin to survey your staff to measure whether you have potential GCM clients in your present services that would pay for geriatric care management services.

 

 

How Can Existing Non-Profit Staff Buy In to For Profit GCM?

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Existing non- profit staff can be fee phobic. As adding a for profit arm, often goes against the mission to serve the needy and poor, they often find this new service a shocking decision and can push back and sabotage.

Non- profits who add geriatric care management as a for profit revenue stream can benefit from workshops dealing with staff feelings about the new for profit service and their for profit geriatric care management staff.

A staff retreat or workshop should cover the reasons for adding for profit geriatric care management. These workshops should address non Profit funding mechanisms and deficits in that funding like diminished government grants, decreased donor support.

The sessions can teach the value that geriatric care management to the non-profit bottom line to can help reluctant staff have a buy in. Showing staff how the addition of a for profit service will protect their own programs will help staff really buy into the new program.

 Hiring an outside facilitator can help. Allowing staff members to articulate their objections and do role-playing can helped them feel more comfortable with fee for service geriatric care management. Doing this before geriatric care management begins can make it easier for  staff accept and work with the new program and avoid staff sabotage

 

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